The word 'economy' in economics means

spending as little as possibleCorrect answerYour answera system by which people earn their living and use resources to meet their wantsCorrect answerYour answeronly the government's budgetCorrect answerYour answerthe money kept in banksCorrect answerYour answer

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CorrectNot quiteAnswer B

Correct answer: B

An economy is the whole set of arrangements for producing, exchanging and consuming goods and services.

Worth noting

'Economy' in daily speech can mean thrift, but in economics it names a system.

Concept: Meaning of an economy
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The rule this testsMicroeconomics and macroeconomics

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The word 'economy' in economics means

Explanation